Fed Rate Decision Looms Large for Crypto Markets

Despite a relatively light week on the US economic calendar, investors are still keeping an eye on several key events that could impact crypto markets.

This week's data is expected to signal whether the economy remains robust following last week's below-forecast CPI inflation reports. The CME Fed Watch Tool currently predicts an 85.6% probability that rates will remain unchanged during the central bank's next meeting on July 29.

Crypto markets have been relatively flat over the weekend, with low volatility and total capitalization hovering around $2.3 trillion. Bitcoin has remained tightly range-bound between support at $62,000 and resistance just above $65,000, while Ethereum prices have also done very little, hovering around $1,870.